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H. B. No. 17 As IntroducedAs Introduced
127th General Assembly | Regular Session | 2007-2008 |
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Cosponsors: Representatives Skindell, McGregor, J., Brown, Brady, Koziura, Chandler, Stewart, D.
A BILL
To amend section 5747.98 and to enact section 5747.71
of the Revised Code to
grant a state earned income
tax credit equal to a percentage of the federal
earned income tax credit.
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
Section 1. That section 5747.98 be amended and section 5747.71 of the Revised Code be enacted to read as follows: Sec. 5747.71.
For taxable years beginning on or after January 1, 2009, there is hereby allowed a refundable credit
against the tax imposed by section 5747.02 of the
Revised Code for
a taxpayer who is an
"eligible individual," as defined in section 32
of the
Internal
Revenue
Code. The credit shall equal
five per
cent of the credit allowed on the taxpayer's federal
income tax
return pursuant to section 32 of the
Internal
Revenue
Code for
taxable years beginning in 2009, and ten per cent for taxable years beginning in 2010 or thereafter. If an earned income eligibility certificate with
respect to the
taxpayer is in effect during the taxpayer's taxable
year
pursuant to section 3507 of the
Internal
Revenue
Code,
the credit shall equal five per cent of the
amount of advance payments of the earned
income credit made by
the employer pursuant to that
section during the taxpayer's taxable
year beginning in 2009, and ten per cent of the amount of advance payments made during the taxpayer's taxable years beginning in 2010 or thereafter. The credit shall be claimed in the
order prescribed by
section 5747.98 of the Revised Code. If the
amount of the
credit exceeds the amount of tax due after deducting
all other credits
that precede the credit allowed by this section in
that order, the taxpayer shall receive a refund
of the excess.
Sec. 5747.98. (A) To provide a uniform procedure for
calculating the amount of tax due under section 5747.02 of the
Revised Code, a taxpayer shall claim any credits to which the
taxpayer is
entitled in the following order: (1) The retirement income credit under division (B) of
section 5747.055 of the Revised Code; (2) The senior citizen credit under division (C) of
section
5747.05 of the Revised Code; (3) The lump sum distribution credit under division (D) of
section 5747.05 of the Revised Code; (4) The dependent care credit under section 5747.054 of
the
Revised Code; (5) The lump sum retirement income credit under division
(C)
of section 5747.055 of the Revised Code; (6) The lump sum retirement income credit under division
(D)
of section 5747.055 of the Revised Code; (7) The lump sum retirement income credit under division
(E)
of section 5747.055 of the Revised Code; (8) The low-income credit under section 5747.056 of the Revised Code; (9) The credit for displaced workers who pay for job
training under section 5747.27 of the Revised Code; (10) The campaign contribution credit under section
5747.29
of
the Revised Code; (11) The twenty-dollar personal exemption credit under
section 5747.022 of the Revised Code; (12) The joint filing credit under division (G) of
section
5747.05 of the Revised Code; (13) The nonresident credit under division (A) of
section
5747.05 of the Revised Code; (14) The credit for a resident's out-of-state income
under
division (B) of section 5747.05 of the Revised Code; (15) The credit for employers that enter
into agreements
with child day-care centers under section 5747.34 of the
Revised
Code; (16) The credit for employers that reimburse employee
child
care expenses under section 5747.36 of the Revised Code; (17) The credit for adoption of a minor child under section
5747.37 of the Revised Code; (18) The credit for purchases of lights and reflectors under
section
5747.38 of the Revised Code; (19)
The job retention credit under division (B) of section
5747.058 of the Revised Code; (20) The credit for purchases of new manufacturing
machinery
and equipment
under section 5747.26 or section 5747.261
of the
Revised Code; (21) The second credit for purchases of new
manufacturing
machinery and
equipment and the credit for using
Ohio coal under
section 5747.31 of the
Revised Code; (22) The job training credit under section 5747.39 of
the
Revised Code;
(23) The enterprise zone credit under section 5709.66 of
the
Revised Code; (24) The credit for the eligible costs associated with a
voluntary action
under section 5747.32 of the Revised Code; (25) The credit
for employers that establish on-site
child
day-care centers under section
5747.35 of the Revised Code; (26)
The ethanol plant investment credit under section
5747.75 of the Revised Code; (27) The credit for purchases of qualifying grape
production
property under section 5747.28 of the Revised Code; (28) The export sales credit under section 5747.057 of
the
Revised Code; (29) The credit for research and development and
technology
transfer investors under section 5747.33 of the Revised
Code; (30)
The enterprise zone credits under
section 5709.65
of
the
Revised Code; (31) The research and development credit under section 5747.331 of the Revised Code; (32) The refundable jobs creation credit
under
division
(A)
of section
5747.058 of the Revised Code; (33) The refundable credit for taxes paid by a
qualifying
entity granted under section 5747.059 of the Revised
Code; (34) The refundable credits for taxes paid by a
qualifying
pass-through
entity granted under division (J) of
section 5747.08
of the Revised Code; (35) The refundable credit for tax withheld under
division
(B)(1) of section 5747.062 of the Revised Code;
(36) The refundable credit under section 5747.80 of the Revised Code for losses on loans made to the Ohio venture
capital program under sections 150.01 to 150.10 of the Revised
Code; (37) The refundable earned income tax credit under section 5747.71 of the Revised Code. (B) For any credit, except the credits enumerated
in divisions (A)(32) to (36)(37) of
this
section
and
the
credit granted under division
(I) of
section
5747.08 of
the
Revised Code, the amount of the credit
for
a
taxable year
shall
not
exceed the tax due after allowing for any
other credit
that
precedes it in the order required under this
section. Any
excess
amount of a particular credit may be carried
forward if
authorized
under the section creating that credit.
Nothing in this
chapter
shall be construed to allow a taxpayer to
claim, directly
or
indirectly, a
credit more than once for a
taxable year.
Section 2. That existing section 5747.98 of the Revised Code is hereby repealed.
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